Why All Businesses Should Consider Outsourcing An Integral Part Of Business Growth

By Jack Thompson

Businesses of all kinds can and do benefit from the tool of outsourcing every
day. Businesses large and small have been outsourcing every day projects for
many years. The businesses that use outsourcing as a tool to enhance and grow
their business already know the value that outsourcing brings to their
organization. Outsourcing is a business process term for what has literally
become known as hiring a consultant, independent contractor, or freelancer to
do a specific task or tasks for an organization in which the organization
either does not have the time or the expertise to do on their own. The
organizations that have used outsourcing for many years know that with the
positives it brings to the organization that it is also important to have a
well managed plan of action for hiring a consultant or contractor for a
business task. This includes deciding which projects or tasks to outsource,
whom to hire for these tasks, how to manage the project, how to agree on
payment terms, and how to achieve the desired results. There are many forms of
outsourcing ranging from outsourcing payroll to outsourcing package handling,
to everything in between. Small businesses hiring a self-employed accountant to
handle the corporate tax returns are in essence hiring a tax consultant. Large
corporations that hire outside customer service firms to handle their customer
support are outsourcing that function of their business to focus more on their
core business functions. It is entirely possible to outsource practically every
business process within an organization.

OUTSOURCING TOOLS

There are a wealth of tools available for the organization looking to outsource
business processes. Companies such as SmartyLance.com, enable a business to
post a project to a project marketplace and receive bids from experts in the
field. These type of freelance sites match companies with freelance
professionals, consultants, and independent contractors. There are many
advantages for a business to use services such as SmartyLance. First, the
marketplace enables businesses to use a centralized location to post their
project, receive bids on that project, communicate with potential providers,
choose a winning bid (either based on lowest cost or based on the credentials,
expertise, or prior feedback of a particular provider), manage the project
specifications, receive the delivered project and make final payment based on
the terms of the auction. This centralized marketplace provided by SmartyLance
greatly streamlines the entire outsourcing process and enables the business
owner or manager to have greater control over the entire outsourcing process.

INCREASING COMPETITION

Competition is a complicated subject for many people. Ultimately, competition is
good for the consumer, whether the consumer is an individual or a business,
competition enables products and services to maintain high quality and low
cost. Although many people dislike competition because it forces action to
improve quality, the benefits to the overall economy even result in improved
products and services for the very people that dismiss competition and the
headaches it sometimes brings. Freelance marketplaces such as SmartyLance are
no exception in that competition improves the overall quality and value for the
project buyer and causes the freelance provider to adjust to market conditions
in a practical, intelligent manner to win new business. The benefits to the
company looking to hire freelancers are obvious. For example, Company A can
compile a list of consultants to work on the design of their new company logo.
This list may include a multitude of design firms from the same geographical
area. Company A would be required to submit an RFP by contacting each design
firm individually, stating the requirements of their project and requesting a
quote based on the requirements. Many factors come into play in deciding which
design firm Company A will choose. Chances are, that using this approach,
Company A will end up paying too much for the project and will only have a
handful of providers to choose from. Company B also must outsource the design
of their new company logo. Rather than compile lists of design firms, which can
result in overpriced quotes, Company B decides to post their logo design
project to the SmartyLance marketplace. Doing so enables Company B to get
competitive bids that help ensure that Company B gets the most competitive
price for their project. By posting the logo design project to SmartyLance,
Company B not only reduced costs associated with the project, they had access
to specialists and skilled professional designers from around the world that
were competing to give Company B the best cost and highest quality design for
their money. The entire process was managed easily through Company B's
SmartyLance account enabling them to keep in contact, manage project
specifications, manage competing bids, and send payment easily and securely
through one of several different payment methods. An escrow account enabled
Company B to ensure that payment wasn't released to the provider until all
project requirements were met. Company B successfully outsourced the logo
design project and was able to save several hundred dollars. They also received
the project several days quicker than Company A. In this example of Company A
and Company B, we see that Company A had limited its ability to find a skilled
professional and limited its ability to save money on the project. Company B
took full advantage of all the resources and benefits of the SmartyLance
marketplace and was able to save time and money. By outsourcing critical
business functions that are not core business functions, the organization
greatly benefits through a savings of time and money which in turn benefits us
all through decreasing costs that are passed down to the consumer.

TO OUTSOURCE OR NOT TO OUTSOURCE?

That is the question many small business owners and large corporations alike are
asking themselves each and every day. Risks are inherent in any new business
strategy or thought process. However, like any business decision, risk can be
managed. By intelligently choosing a provider that matches your intended skill
requirements, carefully detailing and outlining your project requirements, and
ensuring that you maintain the requirements within budget, the benefits can far
outweigh the risks. One of the more common fears among some larger
organizations that may be reluctant to outsource projects is a fear of the
unknown. This fear stems from the inherent inability to oversee each and every
aspect of the project from start to finish and to evaluate each step along the
way. Internal employees devoted to a project are more easily evaluated and can
be guided through performance and work appraisals. Managers may feel that
outsourced projects are more difficult to oversee and manage with an eagle eye.
The fact of the matter is that so long as there are well-defined contractual
obligations and project reporting requirements, an outsourced project can in
fact result in a more manageable outcome than actually thought. Also, the
talent pool and skills obtained that may be completely unavailable to the
organization allow the organization to reach milestones and achieve success
that may never have been possible with their current employees.

OUTSOURCING CONTROVERSY:

The outsourcing controversy that is making headlines today is the public opinion
of outsourcing jobs to other countries. This includes manufacturing of
products, such as those that are "Made In China" as well as service outsourcing
such as computer programming that is outsourced to skilled workers in India.
One can argue that outsourcing projects overseas is taking opportunity away
from workers in their native country. Others may contend that outsourcing
projects, whether it's overseas or in the same country is a great opportunity
that will improve business processes, improve productivity, reduce costs and
have an overall positive effect on the economy, thus creating more new jobs and
specialized jobs in specific skill areas. All businesses are consistently
looking for ways to increase productivity and lower costs. From an economic
standpoint, increasing productivity and lowering costs are essential elements
for business success. Business success, in turn leads to more growth, which
leads to new job creation, be it in a more specialized skill area or through
the development in new types of jobs in new specialized areas.

OUTSOURCED BUSINESS PROCESSES

As mentioned previously, practically any business process not related to the
core business activity can be outsourced. Some examples of commonly outsourced
business processes include: Accounting and Finance Graphic Design &
Multimedia Sales and Telemarketing Web Design and Development Administrative
Support and Data Entry Business Strategy, Advertising, Business Plans,
Consulting Legal, Contracts, Copyright, Corporate, Incorporation Software and
Technology, Database Development Writing and Translation, Copy Writing,
Creative Writing Press Releases

A REWARDING CAREER

Having a specialty or skill in a particular business area can enable you to
begin a career as a consultant or freelancer. Freelancing enables you to have
the flexibility to work on your own and on your own schedule. You can choose
which projects match your skill set and decide which types of freelance
projects that you would be interested in working on. There are numerous sources
available to find freelance work. Some sources include browsing freelance
directories, job boards, and registering with talent auction sites such as
SmartyLance. All of these resources are filled with potential jobs. In
comparison, it seems that talent auctions are the most comprehensive resources
offering the most flexibility to both the freelancer and the company hiring a
freelancer. They offer the breadth and depth of listings and the simplicity to
bid on numerous projects as well as services enabling the handling of the
entire payment process through a service provider account with the talent
auction site. Bidding on projects requires much discipline and planning. Before
placing a bid or giving a quote on a project, the freelancer must take into
account many factors including the length of time required for the project
completion, the budget the service buyer can afford, and whether or not they
can actually meet the requirements to complete the project. It is also
important to keep in mind that developing relationships with service buyers can
lead to more work in the future. Developing a relationship with service buyers
and meeting or exceeding their project expectations will enable you to develop
a client base that allows you to practically always have new projects to work
on.

COMPETITION FOR PROJECTS

There will always be competition in all forms of business. Competition for
freelance projects is fierce. One of the major ways to compete and win is to
make yourself stand out from the rest of the crowd. You can start by fine
tuning your resume. This will force you to think about your accomplishments as
well as your exact skills and abilities. There are numerous services that can
help you with your resume, including ResumeEdge. Using a service to help you
with your resume will enable you to better explain your accomplishments and
present them in a manner that will captivate and impress the reader. Especially
if you are an independent freelancer, having your resume retooled by ResumeEdge
will allow you to stand out in a crowded marketplace. Many freelance service
buyers will wish to see a list of your accomplishments and your skills. If you
register as a service provider with a freelance marketplace such as
SmartyLance, they offer several different options that enable you to stand out
above the crowd. First, there are different subscription levels when
registering. There is a Limited subscription, a Novice subscription or a
Professional subscription. Each higher level subscription offers more options
to the service provider. Every service provider does have the ability to post a
profile, detailing various information about their abilities. Limited
subscriptions limit the cost range in which a service provider can bid. For
example, a Limited service provider can only bid on projects with a price range
less than one thousand dollars. Novice subscription service providers can bid
on projects less than five thousand dollars, and Professional subscription
service providers can bid on any service level project. Several added bonuses
with the Novice and Professional subscription levels include the ability to
purchase credential verification services as well as the ability to post "Buy
Now" projects. Credential verification services enable you to post information
related to your references, certifications, licenses, education and previous
employment. Simply adding these options to your account gives you a special
designation stating that your information has been checked and verified as
being true and accurate by the freelance marketplace. This designation gives
you an added level of credibility making you stand out from the rest of the
service providers and enabling you to showcase your achievements and abilities,
giving a service buyer confidence in choosing you to complete their project.
This will undoubtedly lead to more work and more projects coming your way. In
addition to verifying your credentials, you have the ability to showcase a
portfolio of your previous work. This allows you to show the service buyers
your achievements and your successes with previous clients. Showcasing your
portfolio is another important aspect that gives the service buyer confidence
in your ability. Finally, the higher level subscriptions enable you as a
service provider to offer "Buy Now" solutions. Similar to purchasing products
immediately without bidding as on major product auctions such as Ebay, "Buy
Now" solutions enable freelance service providers and consultants to make a
solution available to all service buyers for a specific set price. For example,
a freelance graphic design firm may create a "Corporate Identity Package",
enabling a service buyer to purchase this package that may include the graphic
design of a logo, along with designs for letterhead, business cards, and banner
ads. Another example could be from a lawyer or legal consultant who creates an
incorporation package that includes corporate setup and incorporation services
for all fifty states, creation of shareholder agreements, employment
agreements, and registered agent services all for a set price. These simple
examples of "Buy Now" services enable freelance consultants and independent
contractors to create easy options for service buyers who are looking for
simple solutions and quick turnaround time. Service providers also enjoy
creating these type of services because it enables them to focus on their core
interests and abilities. Only higher level subscriptions such as the Novice or
Limited subscriptions enable freelance service providers to post "Buy Now"
projects. The beauty of these additional options as a freelance service
provider is that you can focus on one specific aspect of your business. If you
are a consultant for a graphic design firm and you simply enjoy creating and
designing corporate logos and identities, then you can find work specifically
in this area by posting your own "Buy Now" solution. If you are a lawyer
working for your own legal firm and your passion is new business setups and
incorporation services, then you can steer projects your way with a "Buy Now"
solution posted on a freelance marketplace like SmartyLance.

CONCLUSION

These are only a few examples of the many opportunities that exist as a
freelancer. Whether you are a small business, an individual, or a large
corporation, this article simply serves as a guide to help you in your quest to
use outsourcing to your advantage to help your business grow and flourish.
Outsourcing, when done correctly, can benefit your business in so many
different ways. The two most obvious benefits are a savings of time and money.
From the freelancer's standpoint, this article has been developed to help
educate and guide you with the many options available to find work as well as
to delve into the minds of freelance service buyers. Knowing their concerns and
understanding the reasons for choosing one service provider over another will
greatly benefit you by enabling you to increase your odds for getting new
business. Understanding the concerns and needs of service buyers will lead to
your gains as a service provider. If you are able to provide enough people with
services that they wish to have, then you will always be in demand.

About the Author: Jack Thompson is a freelance writer, business consultant and
entrepreneur. He has helped thousands of individuals and businesses across the
world realize the benefits of outsourcing. He can be reached via email at
newsletter@businessreviewjournal.com

We
have worked
with outsource solutions on a number of projects and have been impressed
with their ability to hit tight deadlines without compromising on the
quality of the end product Mrs. Jane Andrews
(ecpartner.co.uk)

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clear. We believe that at outsource solutions we have the infrastructure and
process to ensure that this does not happen to you.

Past
experience has taught us how to avoid many of the pit falls traditionally
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